Australia and Oceania: Market for Precious Metal Ores And Concentrates 2024

Market Size for Precious Metal Ores And Concentrates in Australia and Oceania

In 2022, after two years of growth, there was significant decline in the market for precious metal ores and concentrates in Australia and Oceania, when its value decreased by -8.2% to $X. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +37.4% against 2019 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Production of Precious Metal Ores And Concentrates in Australia and Oceania

In value terms, precious metal ore and concentrate production totaled $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.1% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 21%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Precious Metal Ores And Concentrates

Exports in Australia and Oceania

In 2022, overseas shipments of precious metal ores and concentrates increased by 5.9% to X tons, rising for the second year in a row after two years of decline. Total exports indicated a temperate increase from 2012 to 2022: its volume increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +27.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 53% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

In value terms, precious metal ore and concentrate exports skyrocketed to $X in 2022. Total exports indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +79.8% against 2018 indices. The most prominent rate of growth was recorded in 2020 with an increase of 18% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Australia prevails in exports structure, resulting at X tons, which was near 95% of total exports in 2022. It was distantly followed by Papua New Guinea (X tons), making up a 4.6% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate exports from Australia stood at +3.3%. At the same time, Papua New Guinea (+39.3%) displayed positive paces of growth. Moreover, Papua New Guinea emerged as the fastest-growing exporter exported in Australia and Oceania, with a CAGR of +39.3% from 2012-2022. From 2012 to 2022, the share of Papua New Guinea increased by +4.3 percentage points.

In value terms, Australia ($X) remains the largest precious metal ore and concentrate supplier in Australia and Oceania, comprising 83% of total exports. The second position in the ranking was held by Papua New Guinea ($X), with a 17% share of total exports.

In Australia, precious metal ore and concentrate exports increased at an average annual rate of +4.2% over the period from 2012-2022.

Export Prices by Country

The export price in Australia and Oceania stood at $X per ton in 2022, growing by 9.8% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by 36%. The level of export peaked at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Papua New Guinea ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Australia (+0.8%).

Imports of Precious Metal Ores And Concentrates

Imports in Australia and Oceania

In 2022, the amount of precious metal ores and concentrates imported in Australia and Oceania skyrocketed to X tons, picking up by 189% compared with the previous year's figure. Over the period under review, imports, however, continue to indicate a precipitous descent. The growth pace was the most rapid in 2020 when imports increased by 1,652%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, precious metal ore and concentrate imports soared to $X in 2022. In general, imports, however, continue to indicate a dramatic setback. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Australia prevails in imports structure, accounting for X tons, which was near 98% of total imports in 2022. New Zealand (X kg) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to precious metal ore and concentrate imports into Australia stood at -25.5%. New Zealand (-22.2%) illustrated a downward trend over the same period. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Australia ($X) constitutes the largest market for imported precious metal ores and concentrates in Australia and Oceania, comprising 94% of total imports. The second position in the ranking was held by New Zealand ($X), with a 3.9% share of total imports.

In Australia, precious metal ore and concentrate imports contracted by an average annual rate of -34.3% over the period from 2012-2022.

Import Prices by Country

The import price in Australia and Oceania stood at $X per ton in 2022, growing by 244% against the previous year. In general, the import price, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2015 an increase of 297% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was New Zealand ($X per ton), while Australia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+7.1%).

Source: IndexBox Platform

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